'Apology' insurance claims rock market

Underwriters in Lloyds of London are having their shirts extracted after a slew of succesful claims against 'apology' insurance policies.

For years public figures have taken out insurance against the ignominy of having to apologise in public, with smaller claims for using the words 'regret' and 'failure'.

In earlier years, these contracts proved very profitable for the insurer with politicians managing to slide out of the most sickening scandals, however the banking crisis, Levenson enquiry and continuous select committees have left insurers dreams of avarice in tatters.